Johns Hopkins University Finance Monthly Newsletter
November 2024 | Volume 15 Issue 11
inside this issue:
New Travel Website
The Johns Hopkins Travel Program has an updated website, as do all of the shared services sites.
Non-Payroll Cost Transfers
Participant Support Cost (PSC) GL Accounts
Subrecipient Monitoring
Cash Journal
The Cash Journal should only be used to record cash receipts for non-invoiced items.
Update to Petty Cash hours at Wyman Park for November 2024
Finance News
New Travel Website
Did you know? The Johns Hopkins Travel Program shared services site has a new look – and to help celebrate, our preferred partner Southwest Airlines has a great promotion for Johns Hopkins Travelers.
Please check it out at https://travel.ssc.jhu.edu/preferred-suppliers/airlines/ and navigate down to Airline News and Information for the offer from Southwest.
Safe travels!
Non-Payroll Cost Transfers
Upon reconciliation of sponsored and non-sponsored cost objects, circumstances may arise that require expenses to be moved, using a non-payroll cost transfer. These transactions require monitoring for compliance with JHU policies, federal regulations and sponsor guidelines.
As a recipient of federal research funding, the University is required to comply with requirements of federal regulations for sponsored research, which are defined in OMB Uniform Guidance 2 CFR 200. To comply with the allowability, allocability and reasonableness requirements set forth in OMB Uniform Guidance 2 CFR 200 Subpart D & E, it is necessary to explain and justify transfers of charges involving cost objects supported by federal funding. In order to maintain consistency in the treatment of cost transfers, the University’s policy on non-payroll cost transfers applies to sponsored and non-sponsored cost objects.
It’s the responsibility of the department to transfer expense, less any applicable discounts, and maintain the detail to support the direct charging of expenses moved by a cost transfer. This would also include the allocation method used if only moving a portion of the original expense. The supporting detail should be confirmed during the departmental review and approval process of cost transfers. Supporting detail should be readily available if cost transfers are selected for audit.
Transfers of costs from one project to another or from one competitive segment to the next solely to cover cost overruns are not allowable. Additionally, sponsored cost objects should never be used as holding accounts for expenses that will subsequently be transferred, including to competing or non-competing continuations of the same project. Departments are encouraged to utilize pre-spending accounts, in lieu of charging discretionary or departmentally funded cost objects.
For more information, see frequently ask questions at:
https://sp-ssc.sites.jh.edu/wp-content/uploads/sites/7/FAQ_NonPayroll_Cost_Transfers.pdf
Participant Support Cost (PSC) GL Accounts
In adherence to OMB Uniform Guidance, which excludes participant support cost from the Modified Total Direct Cost (MTDC) base, specific GL accounts have been established. When accounting for PSC, a separate sponsored program is required with the description of Participant Support Cost (PSC) in conjunction with the GL accounts below:
- 652003-Domestic Travel PSC, no F&A
- 652103- Foreign Travel PSC, no F&A
- 633027- Supplies & Other PSC, no F&A
Continue to use the standard GL accounts for stipends, tuition & fees, which are currently exempt from the MTDC base.
Please contact Financial Research Compliance with any questions via the Compliance help desk:
443-997-3806 or [email protected]
References:
JHU Participant Support Cost Policy
OMB Uniform Guidance 2 CFR 200. 68, 75 & 456
https://www.ecfr.gov/current/title-2/subtitle-A/chapter-II/part-200?toc=1
NSF Policy and Procedures Guide
http://www.nsf.gov/pubs/policydocs/pappguide/nsf16001/nsf16_1.pdf
Subrecipient Monitoring
Departments are responsible for ensuring compliance with JHU’s subrecipient monitoring policy and procedures when approving subrecipient invoices for payment.
The following four steps are required for all subrecipient invoices:
- Review for standard invoice data elements
- Calculate financial accuracy
- Confirm programmatic/scientific accomplishment
- Complete a Payment and Performance Certification
The following two steps are required for high risk subrecipients being paid on cost reimbursable sub-agreements:
- Complete a detailed general ledger review with each invoice
- Perform a detailed review/receipt review every six months
A detailed high risk review is recommended to be performed on the first invoice received from the subrecipient.
If audited, all departments paying subrecipient invoices must be able to substantiate all elements of the review through documentation.
For additional details, please refer to the subrecipient policy and related guidance located at: https://frc.finance.jhu.edu/subrecipient-monitoring/
Please contact Financial Research Compliance (FRC) with any questions. Our email address is [email protected]
Cash Journal
The Cash Journal should only be used to record cash receipts for non-invoiced items.
Examples:
- parking fees
- refunds
- Hopkins seminar deposits
The Cash Journal cannot be used to record invoiced items because the Cash Journal cannot clear an open item.
If you have any questions please contact cash accounting at [email protected].
Update to Petty Cash hours at Wyman Park for November 2024
The Petty Cash operating schedule at Wyman Park for November 2024 has been updated as follows:
- Wednesday November 6, 2024
- Wednesday November 13, 2024
- Tuesday November 19, 2024
- Tuesday November 26, 2024
Click this link for more information on Petty Cash and the updated hours.
University Calendar
Communication to JHU Users – Cut-Off Calendar
Key JHU Closing Dates: Please refer to the Online University Finance Calendar for all pertinent communication including University Key Dates.
University Events
University Office of Finance Just Honoring U Employee Recognition Program
The Johns Hopkins University Finance Employee Recognition Program is designed to acknowledge the efforts and contributions of University Finance staff. This program will recognize those employees who have performed above and beyond normal expectations, often defined as “Going the Extra Mile”.
Awards will be made semi-annually. All employees within University Finance are eligible to be nominated and these nominations can come from anyone from the Hopkins community not including the employee’s direct supervisor. While an employee may be nominated each semi-annual period, that employee may only be eligible to win the premium award once per fiscal year.
Recognition of recipients will be done semi-annually at an award ceremony, generally in the months of June and December (submission deadlines are May 1st and November 1st). All recipients, their immediate supervisor, all Finance Directors and the selection committee will be invited to the award presentation and each recipient will be presented with a Certificate of Recognition and a small gift. Additionally, a copy of the written nomination form and Certificate of Recognition will be placed in the employee’s personal file.
Download the nomination form at Just Honoring U Nomination Form. Once you have completed the form, click the “Submit” button at the bottom of the form and follow the directions to email the completed form. You must complete the entire form for it to be considered.
If you have any questions or are unable to access the form, please email [email protected].
Holiday Calendar
The updated holiday calendar for JHU is for the 2024 calendar year. Please note, that the University holiday calendar will now cover three years at a time.
The upcoming 2022-2024 calendar can be seen here.
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